Renaissance Technologies LLC Reduces Position in Red Rock Resorts, Inc. (NASDAQ:RRR)

Renaissance Technologies LLC lessened its stake in Red Rock Resorts, Inc. (NASDAQ:RRR - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,912 shares of the company's stock after selling 15,188 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of Red Rock Resorts worth $2,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Red Rock Resorts by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,181,146 shares of the company's stock worth $239,576,000 after acquiring an additional 50,193 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Red Rock Resorts by 20.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,344,058 shares of the company's stock worth $62,149,000 after purchasing an additional 229,843 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Red Rock Resorts by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 621,151 shares of the company's stock valued at $28,722,000 after buying an additional 44,043 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Red Rock Resorts by 167.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 422,447 shares of the company's stock valued at $19,534,000 after buying an additional 264,609 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Red Rock Resorts by 8.7% in the fourth quarter. Bank of New York Mellon Corp now owns 397,771 shares of the company's stock worth $18,393,000 after buying an additional 31,858 shares during the period. Institutional investors own 47.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RRR shares. JMP Securities reduced their price target on Red Rock Resorts from $59.00 to $55.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Truist Financial cut their target price on shares of Red Rock Resorts from $56.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Mizuho upped their price target on shares of Red Rock Resorts from $44.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Stifel Nicolaus increased their price target on shares of Red Rock Resorts from $50.00 to $54.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley decreased their price objective on shares of Red Rock Resorts from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.33.

Red Rock Resorts Stock Down 2.0 %

NASDAQ:RRR traded down $0.89 during trading hours on Wednesday, reaching $42.70. 725,035 shares of the company traded hands, compared to its average volume of 569,058. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 14.28. The business's 50-day moving average price is $43.64 and its two-hundred day moving average price is $47.45. Red Rock Resorts, Inc. has a 1 year low of $35.09 and a 1 year high of $61.73. The stock has a market capitalization of $4.53 billion, a P/E ratio of 17.01, a P/E/G ratio of 4.32 and a beta of 1.69.

Red Rock Resorts (NASDAQ:RRR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.34. Red Rock Resorts had a return on equity of 71.00% and a net margin of 7.94%. Analysts predict that Red Rock Resorts, Inc. will post 1.76 earnings per share for the current year.

Red Rock Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, March 17th. Red Rock Resorts's payout ratio is 39.84%.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.